MUTUAL BENEFIT BUILDING SOCIETY.

Wairarapa Daily Times, Volume LXV, Issue 11785, 23 September 1913, Page 2

MUTUAL BENEFIT BUILDING SOCIETY.

ANNUAL REPORT

j The following is the Directors , re- ! port, to be submitted at the annual meeting of shareholders, to be held on Wednesday, October Bth, 1913, at 8 p. m.: —The profit and loss account stands at £2861 15s 9d, an increase of £180 15s 6d on last year. Nearly £33,----000, free "of interest, has been lent by the Society since its inception, a fact which, shows conclusively the benefits obtained by the shareholders from the Society. The arrears on the shares seem very large, but this is mainly accounted for by the number of shares that have been" taken up on the double payment system. During the year the sum of £4390 has been sold or balloted for amongst the shareholders, of which only £3000 has been taken lip, the balance having been foregone. The Society has expended the sum of £721 2s in buying out shareholders who have withdrawn from the Society. \r, is intended to hold a sale of £300 after the annual meeting of shareholders, to be held on October Bth, 1913. Twelve meetings of directors have been held dv. ring the year, at which the attendance has been as follows:—T. S. Cresswell 11, J. W. Gordon 11, A. K. Johnston 10, J. Prentice 10, R. Krahagen 9, A. Gardner 9, G. Hyde 7, A. Cambourne (who was appointed in Mr Candy's place four months ago) 4, J. C. Ewingt'on 4. Messrs Gardner, Gordon and Prentice retire from the Board of Directors by effluxion of time, but are eligible for re-election. The shareholders will be asked to appoint three Directors. At the annual meeting the shareholders will be asked to appoint an auditor for the ensuing year. Mr G. W. Sellar (the shareholders , auditor for the past year) offers himself as a candidate for that office. I R. KRAHAGEN, Chairman.